
The JSW Group has signed a monumental memorandum of understanding (MoU) with the Maharashtra government, committing to invest ₹3,00,000 crore in the Naxal insurgency-affected Gadchiroli district. This investment, the largest among 20 MoUs signed during the World Economic Forum (WEF) in Davos, Switzerland, is set to drive industrial growth and sustainable development in the region.
Investment of ₹3,00,000 Crore (Three Lakh Crore) by JSW gives a big boost to Maharashtra's industrial environment!
JSWच्या ₹3,00,000 कोटींच्या (तीन लाख कोटी ) गुंतवणुकीमुळे महाराष्ट्राच्या औद्योगिक वातावरणाला मोठा 'बूस्ट'!(जेएसडब्ल्यू ग्रुपसोबत सामंजस्य करार | दावोस,… pic.twitter.com/MOnE4WOeBn
— Devendra Fadnavis (@Dev_Fadnavis) January 21, 2025
The MoU covers critical sectors such as steel, renewable energy, infrastructure, cement, lithium-ion batteries, solar wafers, and cell modules. This move reinforces Maharashtra’s position as India’s leading industrial hub and is expected to generate significant employment opportunities, particularly in Gadchiroli, which the government aims to develop into the “steel city of India.”
Chief Minister Devendra Fadnavis emphasized the importance of this collaboration, stating, “This investment will not only transform Gadchiroli but also strengthen Maharashtra’s position as an industrial and economic powerhouse. It reflects our commitment to innovation, job creation, and long-term prosperity for our people.”
The Maharashtra government also signed MoUs with other prominent companies, including Belgium-based AB InBev, which plans to invest ₹750 crore to set up a plant in Chhatrapati Sambhajinagar, and Waaree Energies, committing ₹30,000 crore for a solar PV module manufacturing plant in Nagpur.
Disclaimer: The information provided is based on announcements made during the World Economic Forum (WEF). The company has not officially updated this information in any exchange filing. Readers are advised to verify details through official channels or announcements before making any conclusions.